Avid boosts engineering interests with Alpha Anodising deal
Friday, March 28, 2008
Avid Holdings is paying £0.7 million plus a possible earn-out for Buckinghamshire-based metal finishing business Alpha Anodising Ltd.
Avid said the move provided strategic opportunities and synergies with its other engineering interests, bringing substantial work, which is currently sub-contracted, within the group.
Alpha offers a wide range of production techniques such as mechanical and chemical finishes, high quality surface and sub-surface printing, as well as professional design and prototyping services. The company supplies the medical, scientific, defence and audio industries.
Jonathan Bobbett, Avid’s chief executive, said: “This acquisition, our second in 13 months, advances our strategy of acquiring complementary businesses in the precision engineering sector and is a stepping stone to further acquisitions.
“The Avid group intends to act as a consolidator in this fragmented sector, becoming a larger and profitable group providing enhanced shareholder value.”
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